In S. Korea’s biggest IPO, Hotel Lotte targets raising up to $5b

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The listing could reach $3 billion to $5 billion, potentially surpassing the $4.04 billion record set in 2010 by Samsung Life Insurance Co Ltd. Korea Exchange forecasts about 20 new listings this year as Hotel Lotte and other large companies bring volume to the IPO market after listing rules were eased.

Exclusive: Singapore-based real estate portal PropertyGuru defers listing plans

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“We are definitely not listing this year. We just closed a round of investment 6 months ago, and we don’t need to list to raise capital. Earlier, when we said we planned to list in 2016, it was before we raised S$175m in fresh investments,” its chief executive Steve Melhuish said.


Indonesia’s Telkom plans to raise $360m via bonds in May or June this year

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Indonesia state owned telecommunication operator PT Telekomunikasi Indonesia Tbk (TLKM), also known as Telkom, plans to raise Rp5 trillion ($359.71 million) from a bond issuance in May or June, said the chief executive (CEO). The proceed from bond issuances and bank loans up to Rp10 trillion will finance costs of… Read more »


6 more foreign institutions, including India’s RBI allowed in China’s interbank FX market

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China has allowed a second batch of foreign institutions to enter China’s interbank foreign exchange market, the country’s central bank said on Tuesday. Six central banks and international financial institutions, including Reserve Bank of India (RBI), Monetary Authority of Singapore and Bank of International Settlements, are now allowed to trade… Read more »


Star hedge fund managers join losers’ club for first time

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An elite group of hedge fund managers must have awakened on Jan. 1 with an unusual type of hangover: their first annual loss. Large funds managed by King Street Capital Management, CQS, Pine River Capital Management, Metacapital Management, DW Partners and Libremax Capital were among those that lost money, or… Read more »


Indonesia small lender Bank Artos scrip opens higher on IDX listing debut

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Indonesia small lender PT Bank Artos Indonesia Tbk (ARTO) becomes the first company to list on the Indonesia Stock Exchange (IDX) in 2016 while construction services firm PT Mitra Pemuda will follow suit on the Jakarta bourse. The bank, based in Bandung West Java, made a listing debut on the market with shares opening… Read more »


Singapore’s bond market might see second default amid Pacific Andes skirmish

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Singapore’s bond market may see its second default in as many months after creditors said Pacific Andes Resources Development Ltd. hasn’t honored some obligations on S$200 million ($139 million) of notes.


India: Flipkart top management changes ahead of possible IPO

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India’s biggest e-commerce company Flipkart‘s chief executive and co-founder, Sachin Bansal, will step down and be succeeded by its other co-founder Binny Bansal, in a move viewed by some as a step towards a stock market listing. Binny, who was chief operating officer before the rejig, launched Flipkart in 2007 with… Read more »


India: Lemon Tree Hotels plans IPO in next 18 months

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The company, backed by Dutch pension fund APG and global PE fund Warburg Pincus is yet to finalise the amount it plans to raise from the primary market.


Vietnam sells 97% in Vinamotor via auction, BRG Group’s Vinamco is likely buyer

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Vietnam’s state-owned automobile firm Vietnam Motors Industry Corporation (Vinamotor) has offloaded 97 per cent stake to an undisclosed private auto firm during the Monday auction on the Hanoi Stock Exchange. While the identity of the buyer was not disclosed, the ttvn.vn reported, citing its source, that N.A Vietnam Motor Co Ltd (Vinamco)… Read more »